Birchbox Secures $60 Million Series B Funding Round.
Birchbox has recently announced earlier in the morning that it has managed to close a funding round of $60 million Series B led by Viking Global Investors, along with other existing investors, First Round Capital, Accel Partners, Aspect Partners, Glynn Capital, Comcast Ventures, Sam Lessin, Consigliere Brand Capital, Slow Venture, Red Swan Ventures and TriplePoint Ventures Growth BDC Corp.
The New York-based company, was co-founded by Hayley Barn and Katia Beauchamp, sends their subscribers monthly boxes that contain up to four to five samples of beauty and lifestyle products. if customers like what they have found within their BirchBox, They can purchase a full-sized version of the products on the company’s online store.
Birchbox has continued to show consistent growth since its launching back in 2010. They’re regularly partnering with cultural trendsetters, they launched a line of Birchboxes for men as well, and their services has become available in the international markets of France, Spain, and the United Kingdom.
“We are constantly working to provide our customers and brand partners with the best possible experience and insights,” Ms. Beauchamp, who’s also Birchbox’s CEO, said in a press release. “With Birchbox, we are growing the existing beauty market by inspiring new customers to shop; we’ve learned where to invest for a leading industry position, and this raise will allow us to further grow our footprint and position in the beauty industry.”
According to the press release, BirchBox plans to utilize its newly acquired finances to “continue to tell its story through marketing initiatives, refine its mobile application, fortify Birchbox Man and develop its team worldwide.”